Private student loans and borrowing options

Private student loans and borrowing options

Private student loans and borrowing options

Find out if a private student loan is right for you and learn how you can cover 100% of your eligible college expenses.

Federal Student Loan Information

It's important to understand your college financing options.

Note: As of July 1, 2010, Wells Fargo and other private lenders no longer offer federal student loans. If you obtained a federal student loan through Wells Fargo before July 1, 2010, and would like to learn about repaying that loan, please see our Federal Loan Repayment page.

When it comes to financing your education, carefully consider all of your options, including grants, scholarships, federal student loans, and private student loans.

The Free Application for Federal Student Aid (FAFSA) is used by schools to determine your eligibility for federal student loans and other federal, state, and school aid. We encourage you to complete the FAFSA online at

After you complete the FAFSA, the U.S. Department of Education (DOE) will mail you a Student Aid Report (SAR). When you get the SAR you can check it for accuracy and errors. The SAR doesn't tell you how much aid you'll get. The DOE sends the information from your FAFSA to the schools you list on the FAFSA. The schools to which you've been accepted will use that information to send your award letters.

The federal loans described on this page are all guaranteed by the Federal Government. They are made through the William D. Ford Federal Direct Loan Program, which means students or parents borrow the money directly from the DOE. Each of the loans has a fixed interest rate.